The Nigerian Stock Exchange has granted anticipatory approval for the shares of Access Bank Plc (“the Bank”) to be placed on Technical Suspension. The approval follows the application made by the Bank to The Nigerian Stock Exchange.
The Bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorization for the Board of Directors to raise additional equity capital in the sum of up to NGN 68 billion by way of a Rights Issue.
The Board believes that the Technical Suspension is in the overall interest of the Bank’s shareholders and will preserve shareholders’ value, on account of the proposed corporate action. The Technical Suspension will be lifted on January 27, 2015 and the normal trading activities will resume on January 28, 2015.